New York City plans to wipe out $2 billion in medical debt for 500,000 residents

tuckgod

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Should it be free?
In America it should be

If we have money to pay for Israel’s endless conflicts, their free healthcare, free public university, subsidized housing, and even free public transportation in some areas, we can afford anything here.

 

SNYC

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I'm curious to how her operation works..

I know normally, debt collectors buy debt from hospitals, etc for less & then try to collect from the patient. Her company just buys & forgives?

2 billion?
 

bnew

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I'm curious to how her operation works..

I know normally, debt collectors buy debt from hospitals, etc for less & then try to collect from the patient. Her company just buys & forgives?

2 billion?

thats the gist of it. the debt collectors just want to profit or at least cut their losses, the people buying the debt make sures that happens.
 

SNYC

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thats the gist of it. the debt collectors just want to profit or at least cut their losses, the people buying the debt make sures that happens.
I understand them wanting to cut losses, that's why they'll work with you to get something before selling your account for less than it's worth..

I'm talking about her having over 2 billion in funding to do this. Guess I'm thinking of sustainability

I'm reading more into this..

 

Lakers Offseason

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RIP Medical Debt president and CEO Allison Sesso said there will be no application process for the program. Relief recipients will be notified that their debt has been bought by a third party and erased.





If an organization is buying these debts, best believe they are not doing it for altruistic reasons and there is money to be made. Taxpayers are paying this somehow.
 
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